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South America


Venezuela Delays Gas Exports to Colombia – Here’s Why

Venezuela has suspended nat gas supply to Colombia due to El Niño. Climate has brought drought and water shortages to Colombia and PDVSA has been notified that electrical generation might vary. The 2007 agreement between both countries states that Venezuela will supply Colombia with 39 million cubic feet of gas per day, which represents 3%…

Latin America and China Agree to Expand Ties in Beijing

Chinese government officials met with representatives from CELAC (Community of Latin American and Caribbean States) for two-day talks in Beijing. The meetings concluded with the signing of a declaration to cooperate in areas of science, education, and energy. The agreement involves a large investment of $50 billion and a four-year plan to deepen trade and other…

U.S. warns that if Venezuela ends oil subsidy for Caribbean, it can’t step in

With the opposition party gaining popularity in Venezuela’s elections, the U.S. is worried about the future of Caribbean countries that depend on the Petrocaribe program. Deputy National Security Adviser Ben Rhoder points out that even though the U.S. would be able to contribute and provide some resources, it won’t be able to substitute Venezuelan oil. by Franco…

Brazil’s Petrobras offers to sell up to 10 pct of coveted offshore oil field

In order to reduce its large debt, Petrobras is offering part of its 40% stake in the Libra offshore oil prospect. The offer can go up to a quarter of its stake, equivalent to $1.5 billion. Petrobras’ debt now surpasses the $130 billion and so it’s now offering oil prospects in the sub-salt areas of Santos…

Falkland Islands oil firms announce deal after Argentina election

Change in Argentinian government has brought a big opportunity to the Falkland Islands. Oil exploration firms, Rockhopper Exploration and FOGL, announced their partnership deal and together have influence over the direction of oil and gas in the Falklands. The deal was announced roughly 24 hours after Mauricio Macri was elected president of Argentina. by Rob…

Venezuela PDVSA negotiates light oil import deals for 2016

PDVSA is looking to secure crude oil imports for early next year. By blending imported light crude with its current production, PDVSA will be able to reduce costs and improve the quality of its final blends. According to the vice president of refining, the Venezuelan company has already received proposals which currently under review. by Alexandra Ulmer,…

Southern Cone’s Gas Sector Will Need Significant Investment & Multi-Lateral Approach

South American countries consider gas to be the fuel of the future, however this industry is still in its growing stage along that region. According to a study by Wood Mackenzie, the Southern Cone would need an annual investment of up to $30 billion along with multi -lateral commercial arrangements within countries in order to balance…

Argentina Pulling Ahead In The Race To Be The World’s Next Shale Hotspot

Argentina has been defending it’s title of World’s Next Shale Spot. Last week, YPF announced a leap during the third quarter, equal to 2,900 barrels of oil a day. Not only did their production increased by 7% but YPF has have completed two new wells in a new shale field called La Ribera. La Ribera…

Workers Union strike is hurting Petrobras production

Few days have passed since the Oil Workers Federation (FUP) in Brazil went on strike and Petrobras’ production has been greatly affected. The strike has cost Petrobras a decrease of 13% daily oil production and 14% on daily natural gas. by Will Connors, The Wall Street Journal, Nov. 03, 2015  Turmoil at Brazil’s state-run oil…

Brazilian wind players look to wider Latin American market

Despite Brazil´s recent energy plan to grow 11.5% share in the energy market, companies started to look for opportunities in other Latin American markets specifically in Uruguay, Chile and Mexico, which are seeking wind expansion via auctions. Eletrobras, energy developer from Brazil, plans to develop wind farms in Uruguay. Renova Energia, another Brazilian company, is…

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